Trump ally Thomas Barrack reaches deal with prosecutors to free him from jail before corruption trial
Tom Barrack, a longtime friend and business partner of President Donald Trump, speaking to CNN. (Image via screengrab.)

Billionaire Trump ally Thomas Barrack has reached a deal with prosecutors that will free him from jail pending trial, CNN's Paula Reid reports.

Barrack was arrested on a seven-count indictment that included illegal lobbying for the United Arab Emirates, obstruction of justice, and lying to the FBI.

Barrack was chairman of Trump's inaugural committee, which has also faced allegations of misconduct. Both Ivanka Trump and Donald Trump, Jr. have faced allegations of lying during investigations into the committee.

The judge overseeing the case approved the release of Barrack on a $250 million bond. "The order requires the release bond — which is among the highest ever set in the world — to be secured by $5 million cash," CNBC reported. "It also includes restrictions on Barrack, who will be fitted with an electronic bracelet, GPS monitoring, in addition to being subject to a curfew and to the surrender of his passport."

Because Barrack is a billionaire, prosecutors had worried he might be a flight risk.

Matthew Grimes and Rashid Sultan Rashid Al Malik Alshahhi were also charged in the case.